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2� 1 ��2778
<br /> DEED []� TRLIST
<br /> ��or7tir7ued� Page 4
<br /> amoun�s in the �eser�e a�count are hereby pledged ta further secure the Indebtedness, and Lender is her�by authori�ed
<br /> �o withdraw and apply su�h am�unts❑n the Indehtedness upan the accurrence vf an E�ent vf Default. L�nder shail not
<br /> be required to pay any interest or earnings on the reser�e funds unless required by law or agreed �❑ by Lender in
<br /> writing. Lender d��s not hold the reser�e funds in �rust far Trus�vr, and Lender is not Trustar's agent �vr payment of
<br /> the�axes and assessments required to be paid by Trus�or.
<br /> LENDER'S EXPENDITURES. If any action or proceeding is commenced that would materially a��ect L�nder's interest �n
<br /> the Property or i�Trustor fails to camply with any pro�ision of this Deed of Trus�or any Related �ocuments, including
<br /> but nv� �imited t� Trus�or's fai�ure tv discharge or pay ►►vhen due any amoun�s Trus�or is requir�d to discharg� �r pay
<br /> under this Deed of Trust or any Related ❑o�uments, Lender vn Trus�vr's behalf may �bu�shall n�t be obf�gated to} take
<br /> any action that Lender deems appropriate, including bu� no� limited �o discharging or paying alf taxes, �iens, security
<br /> interests, encumbrances and oth�r claims, at any time le�ied or placed an the Proper�y and paying all �osts�or insuring,
<br /> maintaining and preser�ing the Property. All such expenditures incurred or paid by �ender for such purposes wil! then
<br /> bear interest at the rate cha�ged under the Note from the date in�urred or paid hy Lender�� �he date �f r�payment by
<br /> Trustar. All such expenses w�ll become a part af the Indebtedness and, a� Lender's op�ion, will �A� be payat�le an
<br /> demand; �B) be add�d �o �he balanc� af fihe Note and be appor�ioned among and be payable with any installmen�
<br /> paymen�s �o becom� due du�'ing either �1� the term af any appli�able insuran�e pvlicy; vr �2� the remain�ng term of
<br /> the Note; ar ��y be treated as a balloan paym�nt which will be due and payable at th� Note's maturity. The Deed of
<br /> Trust also will secure payment a� these amounfis. 5uch right shall be in addition ro all other rights and remedies tQ
<br /> which Lender may be entitled upon De�au�t.
<br /> VIIARRANTY; DEFENSE DF TITLE. Th�fo[[owing pro�is�ons ��Iating to awnership o�the Property are a par�of this ❑eed
<br /> of Trust:
<br /> Title. Trustor warrants that: {ay Trus��r h�lds g��d and mark�table title of rec�rd �o �he P�operty in fee simpl�,
<br /> free and ciear a�r all liens and encumbrances o�h�r �han those set f�rth in the �eai Prape�ty des�ription ar in any
<br /> ti�le insurance policy, title repor�, or final �i�le opinion issued in fa�or af, and a�cepted by, Lende� in connection
<br /> with�his Deed o�Trust, and {b} Trus�or has�he full righ�, pawer, and au�hori�y to execute and defi�er this Deed vf
<br /> Trus�to L�nder.
<br /> Defense of Title. Suhj�ct to fih� exception in �h� paragraph abo�e, Trus�vr warrants and wifl fore�er defend �he
<br /> title ta the Property against the lawful claims �f all persons. �n the e�ent any action ar proce�ding is commenced
<br /> that ques�ions Trustor's title �r the int�rest o�Trustee ar Lender under this ❑eed of Trus�, Trustor shai� de�end the
<br /> action a�Trustor's expense. Trustor may be the naminal party in such pr�ceeding, bu� Lender shall be entitled to
<br /> participa�e in th� pr�c�eding and �o be represented in �he proceeding by counsel Qf Lender's own cho�ce, and
<br /> Trustvr will deli�er, �r cause t� he deii�ered, to Lender such instruments as Lender may request from tim� ta time
<br /> �o permi�such par�icipation.
<br /> Cvmpliance Wi�h Laws. Trustor warrants that th� Pr�perty and Trustor's use o� the Property �omplies with ai�
<br /> existing applicable laws, ordinances, and regulations of go�ernmentaf authorities.
<br /> Su�Wi�al of Representa#ians and Vllarranties. All representations, warran�ies, and agreements made hy Trustor in
<br /> this Deed �f Trust sha�� sur�i�e the exe�ution and deli�ery af this �eed of Trust, shall be c�ntinuing in nature, and
<br /> shall r�main in fulf force and e��ect until such time as Trus�ar's Inde�tedness shall be paid in full.
<br /> C�NDEIVINATI�N. The foflowing pro�isions �e�at�ng fia condemnatian proceedings are a part❑f�his Deed �f Trust:
<br /> Prviceedings. If any proceeding in cond�mnati�n is ���ed, Trustor shall promptly nofiify Lender in writing, and
<br /> Trustor shall promp�ly take such s�eps as may be necessary ta de�end th� act�on and obtain the award. Trustar
<br /> may be the nominal party in such proCeeding, but Lender shali b��ntitled tv participate �n the proGeeding and�o be
<br /> represented in th� praceeding by counsel of its vwn choice, and Trus�or will deli�er �r cause to be deli�ered to
<br /> Lender such instruments and docum�ntation as may be reques�ed by Lender fram �ime t� time to permit such
<br /> participa�ion.
<br /> Applica#ion of Net Proceeds. �f all �r any part❑�fihe Property is cond�mned hy em�nent damain proceedings or by
<br /> any proceeding or pur�hase in lieu of condemnation, Lend�r may at its election require that a�l or any por�ion�f the
<br /> net prace�ds o� th� award be applied �v �he lndebtedness or the repair �r restoration of the Praperty. The net
<br /> proceeds af the award shall mean the award after paymen�af all reasonable cos�s, expenses, and attorneys' �ees
<br /> incurred by Truste�or Lender in connection with the cvndemna�ion.
<br /> Ii�JIP�SIT�ON �F TAXES, FEES AND GHARGES BY GC]VERIVMENTAL AUTH�RITIES. The following pr��isions relating
<br /> to ga�ernmental taxes, fees and charges are a part of this Deed a�Trust:
<br /> Current Taxes, Fees and Charges. Upvn request hy Lender, Trust�r shalf �xecute such documents in addition to
<br /> this Deed ot Trust and take whate�er other ac�tion is reques��d by Lender tv perfect and continue Lender's lien on
<br /> the Real Property, Trustor sha�� reimburse Lender far all taxes, as descrihed belvw, together with all expenses
<br /> incurred '€n recording, per�ect�ng or �ontinuing �his Deed a# Trust, including withau� Iimitati�n alf �axes, fees,
<br /> documentary s�amps, and ath�r charges�or recording or register�ng this Deed af Trust.
<br /> Taxes. The follawing shall cons�i�u�e tax�s t� which this section app�ies: {1� a spe�ific tax upon this type fl�
<br /> De�d o�Trust or upon all or any par� of the Indebtedness secured by this Deed of Trust; ��} a specific tax on
<br /> Trust�r which Trust�r is authari�ed or required �o deduct from payments �n the lndebtedness secur�d by this�ype
<br /> of Deed of Trust; �3} a tax an this type of Deed of Trust chargeable agains�the Lender ar the hoid��of the Nate;
<br /> and �4} a specifi� tax on a�! or any portion o�the lndebtedness ar an payments ❑f principal and interest made by
<br /> Trustor.
<br /> 5ubsequent Taxes. If any tax to which this section appli�s is enacted subsequent �a the date of this Deed of
<br /> Trus�, this e�ent shall ha�e the same effect as an Euen� of Default, and Lender may exercise any ar all of its
<br /> a�ailable remedies for an E�ent o� Default as pro�ided helow unless Trustor either ��y pays the tax be�ore it
<br /> becames delinquent, or ��y contests �he tax as pro�ided abo�e in the Taxes and Liens sec�ipn and deposits with
<br /> Lender cash or a suf�ficient�orporat�surety �and or other s�curity satis�actary to Lender.
<br /> SECURITY AGREEMENT; FINAN�ING STATEMENTS. The follawing pro�isions relating to this Deed of Trus� as a
<br /> security agreement are a part of this ❑��d o�Trust:
<br /> Security Agreement. Th€s �nstrument shall �onstitute a 5ecurity Agreement ta �he extent any o� the Property
<br /> �anst�tutes fix�ures, and Lend�r sha[l ha�e ai� o�the rights o�a seGured party under the Uniform Commercial �vde
<br /> as amended from�ime to time.
<br /> 5ecurity ln�erest. lJpvn request by Lender, Trustor sha�� take whate�er action is requested by Lender ta per�ect
<br /> and cont�nue Lender's security in�erest in th� Rents and Persvnai Prope�ty. In add�t�on to recarding this Deed o�
<br /> Trust in the real praper�y records, Lender may, at any time and without further authorization fram Trustor, fi�e
<br /> executed counterparts, copies or repraduc�ions of this Deed of Trus� as a financing statement. Trus�or shaff
<br /> reimburse Lender fa� al� expenses in�urred in perfec�ing or cantinuing this security inter�st. lJpon de�ault, Trustor
<br /> shall not remo�e, se�er or detach the Persona! Property from the PrQperty. Upon default, Trustor sha!! assemble
<br /> any Personaf Praperty not a��ixed �ko the Property in a manner and at a place reasonably con�enient t� Trustvr and
<br /> Lender and make it a�ai�able �o Lender w�thin three �3} days after reGeipt of written demand �rom L�nde� �o the
<br /> extent permi�ted by app�icab�e �aw.
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